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US demands major investments in Venezuela from oil companies for compensation — Politico

The newspaper emphasized that US oil companies have long wanted to regain their assets in Venezuela, and now the administration of US President Donald Trump is offering to help them on one condition

WASHINGTON, January 4. /TASS/. The US administration has warned oil companies that they will receive compensation from Venezuela only if they make major investments in the country’s oil industry, Politico reported, citing sources.

The newspaper emphasized that US oil companies have long wanted to regain their assets in Venezuela, and now the administration of US President Donald Trump is offering to help them on one condition. "Administration officials have told oil executives in recent weeks that if they want compensation for their rigs, pipelines and other seized property, then they must be prepared to go back into Venezuela now and invest heavily in reviving its shattered petroleum industry," the publication noted, citing two sources close to the administration’s outreach.

Politico drew attention to the company representatives’ fear of difficulties in carrying out restoration work at Venezuelan oil fields, while it is not even clear who will lead the country in the foreseeable future. "A central concern for US industry executives is whether the administration can guarantee the safety of the employees and equipment that companies would need to send to Venezuela, how the companies would be paid, whether oil prices will rise enough to make Venezuelan crude profitable," the newspaper stressed.

On January 3, Trump, at a press conference regarding the capture of Venezuelan President Nicolas Maduro, stated that the United States would secure compensation for US oil companies from Caracas, noting that they, in turn, would allocate funds for the restoration of oil infrastructure.

Venezuelan Foreign Minister Yvan Gil Pinto said on January 3 that the United States had attacked civilian and military facilities in Caracas. He condemned Washington’s actions as a military aggression. A state of emergency has been imposed in Venezuela. US President Donald Trump has confirmed the attack on Venezuela. According to the US leader, Venezuelan President Nicolas Maduro and his wife have been captures and taken out of the country.

The Russian foreign ministry expressed profound concern over the United States’ aggression against Venezuela and strongly condemned it. In this situation, it is essential above all to prevent further escalation and to focus on finding a solution through dialogue." The ministry demanded the US immediately release Maduro and his wife.